An issue many growing smaller firms encounter is properly allocating costs against revenues as they expand. Without doing this, it’s hard to tell what product or service lines are actually profitable vs just costing you money. Some companies think that subscribing to a bunch of software will solve this but that really just results in more overhead expenses.

How effective do you track costs against revenues?

Can you tell which of your products/services are actually profitable?

We meet with Mayur Vyas, partner and founder of Finconoso Accounting firm in Washington DC to learn more.